Electronics

On July 15th, the domestic smart massage small appliance company-Beijiao Technology Co., Ltd. (hereinafter referred to as "Beijiao") landed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. On the first day of listing, it closed at RMB 171.18, an increase of 524.74% from the issue price of RMB 27.4, and the market value reached RMB 10.552 billion.

In recent years, the global market for massager products has continued to expand, exceeding USD 10 billion for the first time in 2015 and USD 15 billion for the first time in 2019. It is estimated that by 2022, the global massage appliance market will be close to 18.4 billion U.S. dollars.

With the growth of the per capita disposable income of Chinese residents and the per capita medical and health consumption expenditure, the increase of health awareness, and the expansion of domestic sub-healthy people, middle-aged and elderly people, business travel and office people, etc., modern massage appliances with good massage and health effects are gradually Entering the homes of Chinese people, the market penetration rate of related products continues to rise.

At present, China has become the fastest growing market for massager products in the world. According to statistics, from 2010 to 2019, China's massage appliance market grew from 4.9 billion yuan to 13.9 billion yuan. Even under the sales pressure brought about by the epidemic, the market size will reach 14.8 billion yuan in 2020, a year-on-year increase of 6.47%.

The potential of the industry is so huge, and the domestic portable massager brand represented by BEIJING is firmly seizing the development opportunities of the smart portable massager industry. As of the end of 2020, Beijiao has a total of 165 directly-operated stores in major cities across the country, and this number will continue to increase today.

With the gradual excavation of the potential of the massager industry, the market competition for China's portable massager has become fierce. At present, in the massager market, representative brands include foreign brands such as Panasonic from Japan, OSIM from Singapore, and national brands such as Baccarat, Aojiahua, and SKG. Among the influx of new players, the more typical brands are Xiaomi Youpin, NetEase Yanxuan, and Beijing Tokyo-made. Among them, Xiaomi Youpin has launched a portable massager product that supports Mijia APP control, and Beijing Tokyo-made has also launched massage products for the eyes, scalp, neck, and feet.

The industry believes that the rapid expansion of the portable massage appliance track will bring tremendous pressure to market supervision within a certain period of time. According to the regulatory authorities, there are many types of massage appliance products and scattered enterprises, and there are many challenges in supervision. On the other hand, the rapid influx of many brands and products has made consumers' perception of the brand relatively vague. Instead, they pay more attention to the massage products themselves. This is undoubtedly a challenge for companies. However, in the long run, the performance and quality of massager products are the best bargaining chips in the competition. Therefore, under strict market supervision and high consumer requirements, companies with experience advantages and good reputation will usher in more opportunities .

Lu Jianguo, deputy chief engineer of the China Household Electrical Appliances Research Institute, said in an interview with "China Electronics News" that there is a relatively large gap in the domestic massager standard, and currently only the national standard GB4706.10 "Special requirements for household and similar electrical appliances for safety massage appliances" . In terms of product performance and energy efficiency, my country's massager industry standards are still very scarce. Lu Jianguo emphasized that next, the industry must increase energy efficiency standards and performance standards, and improve the standard system construction as soon as possible. In addition, we must strengthen the development of health and safety standards.